It is understood former Hull City and Watford boss Marco Silva is the main candidate to succeed Allardyce.

The 40-year-old Portuguese was owner Farhad Moshiri’s first choice when he dismissed Dutchman Koeman.

Everton chief executive Denise Barrett-Baxendale thanked Allardyce, adding: “Sam was brought in at a challenging time last season to provide us with some stability and we are grateful to him for doing that.

“However, we have made the decision that, as part of our longer-term plan, we will be appointing a new manager this summer and will be commencing this process immediately”.